Comprehensive Automobile Liability Insurance
Definition - What does Comprehensive Automobile Liability Insurance mean?
Comprehensive automobile liability insurance is a type of coverage you can purchase as part of your auto insurance policy. It covers vehicle encounters with unpredictable elements or incidents apart from collision. This means incidents that occur when you are mobile or simply when your car is at rest. This helps you replace or repair any car damages inclusive in the insurance policy. This is an optional car insurance coverage. However, if you have an auto loan, you may need to purchase comprehensive automobile liability insurance to maintain the agreement with the finance company.
Insuranceopedia explains Comprehensive Automobile Liability Insurance
Comprehensive auto liability insurance is a coverage introduced by insurers to their product lines. It is known as an innovation that is made to address the demand of expanding coverage of automobile insurances not limited to collision.
Comprehensive auto insurance covers all types of incidents that may cause damage to the vehicle, which include, but are not limited to fire, flood, theft, vandalism, and even animal damages.
There is a need to choose a deductible amount when acquiring a quote for comprehensive coverage. The deductible amount one chooses determines the amount of the comprehensive coverage. Comprehensive coverage pays for repairs if the cost does not exceed he vehicle’s original purchase price less depreciation rate.